Visa working closely with Coinbase to facilitate digital currency conversion

Visa working closely with Coinbase to facilitate digital currency conversion

Visa is also advancing in the area of digital currency and is reporting progress of approach on its blog.

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24 Jul 2020 , 17:54 @ Katie Müller

Visa working closely with Coinbase to facilitate digital currency conversion

Visa is also advancing in the area of digital currency and is reporting progress of approach on its blog.

For just a few days, we wrote about how Mastercard simplifies the process of creating a crypto payment cards, and immediately another giant came up with an official statement, and that is VISA. On the official blog, the company also writes that digital currencies are an exciting way for them to expand their network in order to support new forms of trade.

One of the main impulses for the company is also the fact that there are more and more businesses and individuals use digital currencies and the circulation within has reached over $ 10B in May.

Visa stated:

Visa has been working closely with licensed and regulated digital currency platforms like Coinbase and Fold to provide a bridge between digital currencies and our existing global network of 61 million merchants. Around the world, more than 25 digital currency wallets have linked their services to Visa, giving users an easy way to spend from their digital currency balance using a Visa debit or prepaid credential — anywhere Visa is accepted.

One of the biggest advantages is the Visa Direct system, which will allow consumers to convert digital currencies quickly and easily. It is closely linked to Visa’s FastTrack program, which in turn aims to help fintech companies integrate into Visa’s global network.

Visa adds that the research team has been focusing on blockchain for several years, and one of the latest investments was Anchorage last year, a company that is building a security infrastructure for the digital currency ecosystem.

Visa therefore believes that it will become the preferred network for digital currency wallets and facilitate the use of cryptocurrencies worldwide.

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    Katie Müller

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